Decision-makers faced with an opportunity to learn the outcome of a foregone
alternative must balance anticipated regret, should that information be unfavorable, with
the potential benefits of this information in reducing experienced regret. Counterfactualseeking,
the choice to learn more about foregone alternatives, may be a functional, regretregulating
strategy for individuals already experiencing regret. Counterfactual-seeking
increases in response to dissatisfying outcomes (Studies 1 & 2). Counterfactual-seeking
is generally able to reduce dissatisfaction (Study 2), regardless of whether individuals
personally chose to view this information or were randomly assigned to do so (Study 3).
Moreover, both imaginative (versus factual) thoughts about the foregone option and
upward (versus downward) counterfactual thoughts play a role in this improvement in
satisfaction (Study 4). Regret thus has a complex influence in how individuals engage
with counterfactual information.